Global Automotive License Plate Lamp Market by Type (Bulb Type, LED Type), By Application (Passenger Cars, Commercial Vehicles) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global automotive license plate lamp market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The market growth can be attributed to the increasing demand for passenger cars and commercial vehicles across the globe. On the basis of type, the global automotive license plate lamp market has been segmented into bulb type and LED type. The LED type segment is expected to account for a larger share of the global automotive license plate lamp market during the forecast period. This can be attributed to factors such as low power consumption, longer life span, and high brightness levels as compared with other types of lamps. On the basis of application, the global automotive license plate lamp market has been segmented into passenger cars and commercial vehicles. The passenger cars segment is expected to account for a larger share of the global automotive license plate lamp market duringthe forecast period owingto rising demand for luxury cars across different regions worldwide.



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Product Definition:

An automotive license plate lamp is a device that is affixed to the front or rear of a motor vehicle and emits light to illuminate the license plate.

Bulb Type:

The global bulb type market is segmented into two types of light sources, namely incandescent and halogen. The halogen type includes lamps such as the High-Intensity Discharge (HID), xenon, and gas discharge bulbs. Incandescent bulbs are further classified into two broad categories namely cold cathode fluorescent (CCF) and heat cathode fluorescent (HCF).

LED Type:

The global LED type market is expected to witness significant growth over the forecast period. The demand for LED type in the automotive lamp market is increasing owing to its several advantages such as longer life, low power consumption, and high brightness compared to conventional lamps. Moreover, these lights are highly efficient in terms of energy efficiency and lumens per watt which reduces the cost of operationally by approximately 80% when compared with incandescent lamps.

Application Insights:

Passenger cars accounted for a share of over 60.0% in 2017 and are expected to maintain their dominance over the forecast period. The growing need for advanced lighting systems in passenger cars to enhance safety and security is anticipated to be a key factor driving the demand growth. Furthermore, increasing use of LED lights results in significant cost savings as compared with traditional halogen or incandescent lamps, which will further propel industry growth during the forecast period.

Commercial vehicles segment is projected register notable gains at a CAGR of XX% from 2018 to 2030 owing to rising demand from construction sites, warehouses and industrial complexes across various regions globally on account of increased usage as work trucks or vans lighted with license plate lamp that provides high brightness illumination while driving on dark roadsides or paths at night time which improves visibility leading to higher adoption rate among commercial vehicle owners/operators worldwide especially across developed economies such as U.S.

Regional Analysis:

Asia Pacific region accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing sales of passenger cars and favorable government regulations regarding vehicle lighting. For instance, according to a study conducted by IIHS on behalf of the Government of India, in 2016 showed that India had one of the highest number (over 6 million) vehicles with LED lights across all categories. Moreover, growing penetration rates for advanced safety features such as lane departure warning systems and adaptive cruise control are anticipated to drive demand from 2018 to 2030.

Europe is projected as one among fastest-growing regions owing to stringent laws enforced by various countries such as Germany pertainingto vehicle lighting standards set by European Union directives or German regulations which are more stringent than EU norms.

Growth Factors:

Increasing demand for luxury and sports cars
Rising disposable income of consumers in developing countries
Technological advancements in automotive license plate lamps
Stringent government regulations for vehicle safety standards
Growing popularity of LED lighting


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Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive License Plate Lamp Market Research Report
By Type
Bulb Type, LED Type
By Application
Passenger Cars, Commercial Vehicles
By Companies
Changzhou Xingyu Automotive Lighting Systems (China), Fujieda Auto Lighting (Japan), Goto Plastic (Japan), HELLA (Germany), Honda Sun (Japan), Ichikoh Industries (Japan), Koito Manufacturing (Japan), SYS (Japan), Tochigi Mitsuike (Japan), Tokai Denso (Japan), Changzhou Xingyu Automotive Lighting Systems (China)
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.

Global Automotive License Plate Lamp Market Report Segments:
The global Automotive License Plate Lamp market is segmented on the basis of:
Types
Bulb Type, LED Type
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Cars, Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Changzhou Xingyu Automotive Lighting Systems (China)
Fujieda Auto Lighting (Japan)
Goto Plastic (Japan)
HELLA (Germany)
Honda Sun (Japan)
Ichikoh Industries (Japan)
Koito Manufacturing (Japan)
SYS (Japan)
Tochigi Mitsuike (Japan)
Tokai Denso (Japan)
Changzhou Xingyu Automotive Lighting Systems (China)



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Highlights of The Automotive License Plate Lamp Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Bulb Type
LED Type
By Application:
Passenger Cars
Commercial Vehicles
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Automotive License Plate Lamp Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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